IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v19y2022i4p2121-d748672.html
   My bibliography  Save this article

Inclusive Aging in Korea: Eradicating Senior Poverty

Author

Listed:
  • Jooyeon Kang

    (Goldman School of Public Policy, University of California, Berkeley, CA 94720, USA)

  • Jungmin Park

    (College of Business Administration, University of Ulsan, Ulsan 44610, Korea)

  • Jaemin Cho

    (College of Business Administration, University of Ulsan, Ulsan 44610, Korea)

Abstract

Poverty for the elderly is one of the most urgent social problems when discussing the social problems facing Korean society. The purpose of this study is to identify the causes of elderly poverty problems and to seek countermeasures. According to a systematic analysis of the economic difficulties of the elderly population that applies a socioecological model, the cause of elderly poverty is complicated by the specificity of the labor market and pension system in Korean society. This is compounded by the lack of a public support system that can overcome insufficient family care and a lack of individual preparation. To alleviate elderly poverty, this paper recommends three policy alternatives. First, a robust multipillar retirement income security system must be established. To secure a minimal retirement income for the elderly in poverty, who have been marginalized from the public pension system design, the basic pension should be raised for the bottom 70% of senior citizens. Second, in order to tackle labor market duality and early retirement, the seniority-oriented wage system should be reformed into a job-based wage system. Third, to minimize unemployment and promote quality among re-employment jobs, the government should strengthen vocational skills development by expanding programs tailored to older people.

Suggested Citation

  • Jooyeon Kang & Jungmin Park & Jaemin Cho, 2022. "Inclusive Aging in Korea: Eradicating Senior Poverty," IJERPH, MDPI, vol. 19(4), pages 1-21, February.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:4:p:2121-:d:748672
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/19/4/2121/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/19/4/2121/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Deborah Reed & Maria Cancian, 2001. "Sources of Inequality: Measuring the Contributions of Income Sources to Rising Family Income Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 47(3), pages 321-333, September.
    2. David Grubb & Jae-Kap Lee & Peter Tergeist, 2007. "Addressing Labour Market Duality in Korea," OECD Social, Employment and Migration Working Papers 61, OECD Publishing.
    3. repec:bla:revinw:v:47:y:2001:i:3:p:321-33 is not listed on IDEAS
    4. Lu, Xiaomeng & Guo, Jiaojiao & Gan, Li, 2020. "International comparison of household asset allocation: Micro-evidence from cross-country comparisons," Emerging Markets Review, Elsevier, vol. 43(C).
    5. Shoba Arun & Thankom Arun & Vani Borooah, 2004. "The Effect Of Career Breaks On The Working Lives Of Women," Feminist Economics, Taylor & Francis Journals, vol. 10(1), pages 65-84.
    6. Gina Dokko & Steffanie L. Wilk & Nancy P. Rothbard, 2009. "Unpacking Prior Experience: How Career History Affects Job Performance," Organization Science, INFORMS, vol. 20(1), pages 51-68, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anat Herbst-Debby, 2023. "What’s Your Pension Story? Women’s Perspectives during the COVID-19 Pandemic on Their Old-Age Pension Status, Past and Present," IJERPH, MDPI, vol. 20(10), pages 1-20, May.
    2. Zhao, Weiping & Sun, Xiaomei & Jiang, Dayang, 2023. "Role of financial inclusion and green resources for alleviating energy poverty in the Republic of Korea," Resources Policy, Elsevier, vol. 82(C).
    3. Sangmi Kim & Haesang Jeon & Joonhyeog Park, 2022. "The Association of Physical and Mental Illness and Self-Harm Resulting in Hospitalization: A Population-Based Study of Older Adults in South Korea," IJERPH, MDPI, vol. 19(14), pages 1-10, July.
    4. Shu Guo & Xiaoying Li & Ning Cao & Ying Wang, 2023. "The Impact of Rural Tourism on the Poverty Vulnerability of Aging Rural Households," Sustainability, MDPI, vol. 15(8), pages 1-17, April.
    5. John Rodwell & Thomas Hendry & Dianne Johnson, 2022. "A Parsimonious Taxonomy of The Newly Retired: Spousal and Disability Combinations Shape Part or Complete Retirement," IJERPH, MDPI, vol. 19(20), pages 1-13, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marte C.W. Solheim & Ron Boschma & Sverre Herstad, 2018. "Related variety, unrelated variety and the novelty content of firm innovation in urban and non-urban locations," Papers in Evolutionary Economic Geography (PEEG) 1836, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Oct 2018.
    2. Petra Dickel & Monika Sienknecht & Jacob Hörisch, 2021. "The early bird catches the worm: an empirical analysis of imprinting in social entrepreneurship," Journal of Business Economics, Springer, vol. 91(2), pages 127-150, March.
    3. Jani Saastamoinen & Hanna Savolainen, 2021. "Does a leopard change its spots? Auditors and lawyers as valuation experts for minority shareholders in the judicial appraisal of private firms," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(3-4), pages 613-636, March.
    4. Azra Zaimovic & Adna Omanovic & Almira Arnaut-Berilo, 2021. "How Many Stocks Are Sufficient for Equity Portfolio Diversification? A Review of the Literature," JRFM, MDPI, vol. 14(11), pages 1-30, November.
    5. repec:dau:papers:123456789/7049 is not listed on IDEAS
    6. Sotomayor, Orlando, 2004. "Development and Income Distribution: The Case of Puerto Rico," World Development, Elsevier, vol. 32(8), pages 1395-1406, August.
    7. Angus C. Chu, 2010. "Effects of Patent Policy on Income and Consumption Inequality in a R&D Growth Model," Southern Economic Journal, John Wiley & Sons, vol. 77(2), pages 336-350, October.
    8. Shinjinee Chattopadhyay & Prithwiraj Choudhury, 2017. "Sink or Swim: The Role of Workplace Context in Shaping Career Advancement and Human-Capital Development," Organization Science, INFORMS, vol. 28(2), pages 211-227, April.
    9. David McClendon & Janet Kuo & R. Raley, 2014. "Opportunities to Meet: Occupational Education and Marriage Formation in Young Adulthood," Demography, Springer;Population Association of America (PAA), vol. 51(4), pages 1319-1344, August.
    10. Carlos Gradin & Coral del Rio & Olga Canto, 2010. "Gender Wage Discrimination and Poverty in the EU," Feminist Economics, Taylor & Francis Journals, vol. 16(2), pages 73-109.
    11. Karine Briard & Cindy Duc & Najat El Mekkaoui de Freitas & Bérangère Legendre & Sabine Mage, 2011. "Career Interruptions: how do they impact pension rights?," Post-Print hal-00951830, HAL.
    12. Liao, Chien Hsiang, 2021. "The Matthew effect and the halo effect in research funding," Journal of Informetrics, Elsevier, vol. 15(1).
    13. Ryan Michaels, 2013. "The Joint Dynamics of Capital and Employment at the Plant Level," 2013 Meeting Papers 1189, Society for Economic Dynamics.
    14. Sverre J. Herstad, 2018. "Beyond ‘related variety’: how inflows of skills shape innovativeness in different industries," European Planning Studies, Taylor & Francis Journals, vol. 26(2), pages 396-420, February.
    15. Semrau, Thorsten & Biemann, Torsten, 2022. "When sergeants can outrank generals: Person-organization fit and the performance of franchisees as agents of their franchisor," Journal of Business Venturing, Elsevier, vol. 37(2).
    16. Shao, Shuai & Yang, Zhenbing & Xu, Le & Yang, Lili, 2024. "Environmental protection experience of secretaries and effectiveness of environmental governance: Evidence from COD discharge in China," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 237-253.
    17. Matthew Lee & Julie Battilana, 2013. "How the Zebra Got Its Stripes: Imprinting of Individuals and Hybrid Social Ventures," Harvard Business School Working Papers 14-005, Harvard Business School.
    18. Henrekson, Magnus & Dreber, Anna, 2004. "Female Career Success: Institutions, Path Dependence and Psychology," SSE/EFI Working Paper Series in Economics and Finance 574, Stockholm School of Economics, revised 25 Jan 2007.
    19. Brewer, Mike & Wren-Lewis, Liam, 2012. "Accounting for changes in income inequality: decomposition analyses for Great Britain, 1968-2009," ISER Working Paper Series 2012-17, Institute for Social and Economic Research.
    20. Amankwah-Amoah, Joseph, 2011. "Learning from the failures of others: The effects of post-exit knowledge spillovers on recipient firms," MPRA Paper 89223, University Library of Munich, Germany.
    21. Arslan, Ahmad & Haapanen, Lauri & Ahokangas, Petri & Naughton, Sean, 2021. "Multicultural R&D team operations in high-tech SMEs: Role of team task environment and individual team members’ personal experiences," Journal of Business Research, Elsevier, vol. 128(C), pages 661-672.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:19:y:2022:i:4:p:2121-:d:748672. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.